In this episode of the RD Exam Made Easy Podcast, you're gonna learn about budgets. Not only are budgets and financial management fair game on the exam, they're a big part of working in management.
If you end up working in a management role, you'll learn more about budgets and you'll get hands on experience managing a budget. But in the meantime, this conversation will help break down budgets in a way that makes practical sense.
My guest is Carolynn Givens, a Registered Dietitian who has worked in Food Service Management for the majority of her career. But it wasn't what she went to school for. Like I always say, you never know where you'll end up.
This is what you'll learn in this episode:
An overview of operating budgets
Capital budgets, what they are, and why it's important to know your department needs
The benefits of Zero Based and Flex Budgets
How Sarbanes Oxley Act of 2002 changed the way businesses manage finances and costs
Here's a glance at this episode:
[07:10] What is a budget and why it's important
[07:43] What a capital budget is and how you can use capital budgets in your department when purchasing large items. Also learn how to get creative when submitting your needs to finance.
[14:10] A review of operating budgets
[24:13] How food costs drive your budget
[27:50] How inventory management impacts food costs
[29:30] Zero based budgets and how to use them in financial management
[33:45] How Sarbanes Oxley Act of 2002 changed the way businesses manage finances and ultimately costs
[35:37] Cost Center Statements - what they are and what's on them
[37:14] Flex Budgets and how they can help you in a challenging economy. And why you really need to know your business if you don't have a flex budget
[43:30] The best advice Carolynn gives new RD's who are interested in working in a Food Service Management role or any new role as a dietitian
Episode Transcript 
